I don't own one but merida is a very large manufacturer.
This from wikepedia so read with some caution:
In 2001, Merida bought 49% of
Specialized for a reported US$30 million, although its CEO and founder
Mike Sinyard remained majority owner
A Shop near me sells them and I have had a look over them and they appear fairly good spec for the money, having said that now that Merida supply the Lampre team bikes the prices have escalated a little.
I find all this quite interesting as niche manufacturers are now biting at the ankles of the likes of Trek and Specialised.
Ribble, Planet X, Moda, Rose etc are now producing some decent good quality well specced bikes for a lot less than the traditional Spesh/Trek.
Hopefully more competition can start to bring the costs of all brands down.